Competitor Profile: DBS Wealth Management 2024

Competitor Profile: DBS Wealth Management 2024

Summary

This report provides a comprehensive analysis of DBS's private banking and wealth management operations. It offers insights into the company’s strategy and financial performance, including key data on assets under management. Customer targeting, service proposition, product innovation, and marketing activities are also covered.

DBS Group is a Singapore-headquartered universal banking group with a presence in 19 markets. It has three main business segments and offers wealth management services through its Consumer Banking/Wealth Management (CBWM) division. The wealth business is further divided into three tiered propositions, with a focus on Asia. DBS serves clients across the wealth continuum through the DBS Treasures, DBS Treasures Private Client, and DBS Private Bank brands, from HNW and UHNW investors and wealthy families to the mass affluent and retail investors.

Scope

• DBS Wealth Management, a part of the CBWM division, reported strong financial performance in 2023. Revenues grew by 35.2% and pre-tax profit surged by 59.5% in 2023, driven by strong growth in client assets and net new money.
• DBS Wealth Management is investing heavily in digital transformation, in line with the group’s strategy. DigiPortfolio, a human-robo investment service for beginner investors, was launched in 2019 and introduced in India in March 2023.
• DBS is focusing on catering to the growing family offices in Singapore. In June 2023, it launched the DBS Multi Family Office Foundry VCC for affluent families.

Reasons to Buy

• Examine DBS's financial performance, key ratios, and assets under management growth.
• Benchmark the company against other global wealth managers.
• Understand its current strategic objectives and their impact on its financial performance.
• Discover its key products and client targeting strategies.
• Learn more about its marketing strategy, social media presence, and digital innovations.